Tuesday, May 13, 2014

News: Crawshaw moves into new market


Crawshaws, the Rotherham-based meat focused retailer, has added a new store to its portfolio after successfully completing the acquisition of East Yorkshire Beef Limited.

The Bradmarsh Business Park company has established its recovery in difficult High Street trading conditions and has recently taken steps to expand.

Established in 1954, the AIM-listed firm has been trading on the stock market since 2004. It was acquired by Felix Group plc in 2008. It has 21 retail outlets throughout Yorkshire, Lincolnshire, Nottinghamshire and Humberside and two distribution centres, in Rotherham and Grimsby.

Manned with skilled butchers, Craswhaw stores specialise in traditional raw meats and hot and cold cooked food. They are generally specialised in value pricing and varied promotions with competitive pricing via a focus on larger value packs and multi buy offers. The acquisition is set to give them a foothold in a completely different sector of the market with East Yorkshire Beef Limited operating a premium sector butcher's shop in Pocklington.

Crawshaws recently reported financial results for the year ending January 31 2014 with total sales of £21m, 12% higher than the previous year (£18.8m). EBITDA (earning before taxes) for the year doubled to £1.4m compared to the £0.7m in 2013. WF Burton, the newly acquired butchers store, generated a turnover of around £1.1m and profits before tax of £22k in the financial year ended April 5 2014.

Richard Rose, chairman of Crawshaw Group plc, said: "We are very excited about this new development as it gives us a position in the premium segment of our market and provides both a well established retail store and a new supply chain which we could expand across other potential sites and online if we choose. Furthermore we believe there are operational synergies that can rapidly enhance the profitability of the acquired store."

In March, Crawshaws opened its latest store on The Moor in Sheffield with a new trade shop set to open in its planned manufacturing and distribution centre at Hellaby, Rotherham.

Crawshaw website

Images: Crawshaw Group


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